Private equity firm Apollo Global Management will take Rackspace private in the all-cash deal.
The merger gives Edenvale nine lighting and fireplace retail sites.
Niche web-only retailer Edenvale Shoppes LLC has added nine home décor sites to its e-commerce portfolio with the acquisition of Barnes & Wagner LLC, Edenvale announced today.
Edenvale, No. 622 in Internet Retailer’s Second 500 Guide, would not say how much it paid for Barnes & Wagner. Edenvale founder and CEO Jesse Akre says his company will rebrand Barnes & Wagner’s sites, which sell fireplace and lighting products, with the Edenvale name. All employees have already transferred from Barnes & Wagner’s Green Bay, WI, facility to Edenvale’s headquarters in the same city. The acquisition should be complete by the end of January, Akre says.
Edenvale operates some 40 e-commerce sites in the home furnishings and décor categories, including OnlyTables.com and SimplyBenches.com. “We never had any penetration into the lighting space,” Akre says. “With Barnes & Wagner, we saw a great fit to work together.”
The merged company will sell products from 200 manufacturers. “Both companies are passionate about e-commerce and have truly pioneered the category together,” says Greg Tice, Barnes & Wagner president. “Given the similar alignment of our visions and overall strategies, the combination of our two companies will advance our presence substantially, thus benefiting our customers.”
Akre will serve as CEO of the combined company and Tice will head the information technology department.